"This is not just an investment worth $550 million," Kaladze said at the meeting with Azerbaijani guests. "It was the beginning of a strategic and successful cooperation between Georgia and Azerbaijan, which intensifies from year to year."
This agreement helped to return Georgia a role of a transit country, the deputy prime minister said.
The deal to launch the Baku-Supsa pipeline project was signed March 8, 1996. The oil pipeline was commissioned in 1999 to deliver oil to the terminal on the Black Sea coast of Georgia. The pipeline has a total length of 830km and it transits about 7 million tons of oil annually (about 140,000 barrels per day).
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